New Construction Loans in Dayton, Tennessee

Dayton, TN has 22 construction private money lenders offering loans within the city.
The median note issued is about $297,188.
Interest rates for hard money loans average 10.8%.
The average loan issued in the city is 13 months in length.
The average note includes a 2.7 point origination cost.
Lenders in Dayton average a 73% loan-to-value (LTV) on their loans.

Loan Example 1

Fred
is a home builder and he wants to purchase a vacant lot in Dayton, TN to build a single family home.
The plot is listed for $210,000 and Fred
expects the building costs for the new house will be approximately $200,000.
City Finance
makes a 85% loan-to-value (LTV) new construction loan to Fred
in order to complete the transaction. They also agree to a 12% interest rate for 18 months plus a 4 point origination fee.
There are no pre-payment penalties on the note and building costs will be paid out over four draws.
Given this loan scenario, the lender will contribute $348,500 of the land and building costs. The borrower will be required to pay $61,500 down, a $13,940 origination charge, and $3,485 per month in loan payments.
If Fred
then sells the home for $590,000 he will make a gross profit of $103,330 after re-paying the principle amount and subtracting the origination expense and cumulative interest payments.

Loan Example 2

Tonya
is a home builder and she wants to buy a home lot in Dayton, TN in order to build a new single family home.
Since she does not have enough cash to pay for the total purchase, she takes out a construction hard money loan from Top Notch Lending Group
with the following terms:

$220,000 sales price for the lot

$250,000 in building costs

80% loan to value (LTV)

12 month term

11% interest rate

2% origination fee

Assuming a $700,000 resell after the 12 month term, the numbers for this project will be the following:

Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $6 Billion life-to-date in total loan volume to real estate ...

Based in Atlanta, GA, Angel Oak Prime Bridge is an asset-based lender offering loans throughout Georgia.
They provide loans for many different scenarios, including fix-and-flip hard money loans, short term bridge loans, construction loans, and investment property loans. ...

Based in Hamilton, NJ, Creative Hard Money LLC is a private lender offering loans throughout the United States.
They provide loans for many different scenarios, including fix and flip loans, cash out hard money loans, rental property loans, ground-up ...

Primeau Funding is hard money lender based in Scottsale, AZ. They provide loans across the United States.
They provide short term bridge loans, ground up construction loans, commercial loans, and fix-and-flip hard money loans.
They ...

Island View Private Loan Fund is a hard money lender based in Colorado Springs, CO offering funding in 42 states across the US.
They offer lending solutions for a variety of situations and needs, including fix and flip hard ...

Global Integrity Finance are commercial hard money lenders based in McKinney, Texas. They specialize in hard money loans for commercial properties, bridge loans, fix and flip loans, and construction loans in some cases. They fund all loans using ...

Headquartered in Miami Beach, FL, YC Funding is an asset-based lender offering loans in 23 states across the United States.
They offer construction loans, cash out loans, buy and hold loans, short term bridge loans, fix and flip hard ...

Lima One Capital is a hard money lender based in Greenville, SC providing loans in 40 states across the US.
They offer loans for many different scenarios, including fix-and-flip hard money loans, construction loans, refinancing, and investment property ...

Sunset Equity Funding is a hard money lender based in Los Angeles, California. They issue loans in all states except for Alaska, North Dakota, and South Dakota. Their loan offerings include purchase loans, fix and flip loans, new ...

Based in Colorado Springs, CO, Red Rock Capital is a private money lender providing loans in 42 states across the United States.
They offer construction loans, bridge loans, fix-and-flip loans, and loans for investments properties.
Their loan ...

Sharestates is a Great Neck, NY based hard money lender. They provide loans in 46 states across the US. They offer lending solutions for a variety of needs and situations, including hard money loans for commercial properties, fix ...

LYNK Capital is a Jacksonville, FL based private money lender who offers loans in 12 states throughout the country.
They provide commercial loans, construction loans, and fix-and-flip loans, multi-unit (5+) okay.
Their loan guidelines are flexible, including rates starting at 7.9% ...

Headquartered in Long Beach, NY, NLDS Corp is a private lender providing funding in 32 states throughout the US.
They offer lending solutions for a variety of scenarios, including hard money bridge loans, fix-and-flip hard money loans, investment property ...

Empire Financial Services is a Tukwilla, WA based hard money lender who offers funding in 16 states across the country.
They offer lending solutions for a variety of situations, including hard money loans for commercial properties, fix and flip ...

Dominion Mortgage Corporation is a Los Angeles, CA based private money lender. They provide loans all throughout the country. They offer short term loans, refinancing, private commercial loans, and new construction loans.
They provide rates ...

Rodeo Capital Inc is private lender headquartered in Los Angeles, CA. They provide loans throughout the US.
They offer lending solutions for many different situations, including refinancing, short term bridge loans, hard money construction loans, fix and ...

Silver Arch Capital is a Hackensack, NJ based hard money lender. They provide loans across the US. They provide new construction loans, refinancing, and hard money loans for commercial properties.
They offer terms between 1 ...

Meridian Capital Group is a New York, NY based hard money lender who offers funding all across the US.
They offer new construction loans, hard money refinancing, commercial loans, and short term bridge loans.
...

We Lend Money is an asset-based lender offering funding all throughout the US. They provide lending solutions for a variety of situations, including private commercial loans, long term rental property loans, fix-and-flip loans, hard money construction loans, and ...

Edward Voccola & Co is hard money lender based in Boston, MA. They provide funding all throughout the US.
They provide lending solutions for a variety of scenarios, including builder loans, hard money bridge loans, and ...

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